Topic: Thoughts on BUSD and other stables. - page 2. (Read 207 times)
Now the BUSD and USDT was using as the stable coin for the transaction.Many people holding their huge crypto currency based on the form of Usdt and Busd.When the price of this two coin is stable and created only for the purpose of act like the American dollars.We know American dollars are used as the sable fiat used or the international transaction.But only thing is the transaction of the USD by the bank account is traceable one.So you need to pay the taxes for such transaction on your bank account.But this crypto currency trading is not a traceable one.
Stables are a good option for transactions, and I'm using them sometimes. But I wouldn't keep my money in it, I think it's kinda dangerous.
What do you guys think about BUSD? Do you think it's worth using over USDT?..
You have chosen the most unfortunate time to exchange your USDT for BUSD. You obviously don't know that the Paxos Trust Company, which is the issuer of BUSD, said that it stopped issuing this stablecoin and decided to burn it at the request of the SEC.
What do you guys think about BUSD? Do you think it's worth using over USDT?
BUSD is way worse than USDT. I keep saying this, and the cracks are finally starting to show. Not just BUSD, people should be careful with Binance affiliated coins like BNB. There is a lot of manipulations going on there.I know that people see stables like something bad, but I think they are pretty useful when you trade on exchanges and some people are using them as a hedge against inflation so I don't see anything wrong in using them as long as the reserves of this stable are transparent enough.
They are bad. The purpose of crypto is decentralization. Stablecoins completely take that away.1. We are always looking at only inflation, how about deflation?
2. Doesn't it feel good if you were trading your ETH/BTC pair and the whole market is going up?
The idea itself of a Stable coin is not bad. It is bad that they are Centralized however, and prone to many flaws and to censorship.
You can get your funds frozen. Or, they can censor your Transactions. Sure. So many years have gone without a single user having such issues. But, who guarantees today is not the day they start doing it. USDT can closely work with Blockchain Analysis firms to choose whose Addresses to be allowed to continue using their USDT funds and whose Addresses shall be frozen.
Transparency has been very questionable for USDT. Many suspect their reserves are not as real and legitimate as they seem. I have not researched this subject before, so if some body has more information feel free to continue this part of my reply.
USDT is a good idea but its Centralization is bad. The same thing goes for BUSD and any other Stable coin. Stable coins that work on algorithms such as LUNA was are even worse. LUNA proved why.
It is best to stay away from them as much as you can.
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Regards,
PrivacyG
You can get your funds frozen. Or, they can censor your Transactions. Sure. So many years have gone without a single user having such issues. But, who guarantees today is not the day they start doing it. USDT can closely work with Blockchain Analysis firms to choose whose Addresses to be allowed to continue using their USDT funds and whose Addresses shall be frozen.
Transparency has been very questionable for USDT. Many suspect their reserves are not as real and legitimate as they seem. I have not researched this subject before, so if some body has more information feel free to continue this part of my reply.
USDT is a good idea but its Centralization is bad. The same thing goes for BUSD and any other Stable coin. Stable coins that work on algorithms such as LUNA was are even worse. LUNA proved why.
It is best to stay away from them as much as you can.
-
Regards,
PrivacyG
What do you guys think about BUSD? Do you think it's worth using over USDT?
What do you think about stables in general?
I saw a lot of hate towards USDT in the past years, but it seems like despite everything it's still winning over other stables and it doesn't look like it will go down soon.
I know that people see stables like something bad, but I think they are pretty useful when you trade on exchanges and some people are using them as a hedge against inflation so I don't see anything wrong in using them as long as the reserves of this stable are transparent enough.
What do you think about stables in general?
I saw a lot of hate towards USDT in the past years, but it seems like despite everything it's still winning over other stables and it doesn't look like it will go down soon.
I know that people see stables like something bad, but I think they are pretty useful when you trade on exchanges and some people are using them as a hedge against inflation so I don't see anything wrong in using them as long as the reserves of this stable are transparent enough.
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